Facts About Renting You May Find Interesting

Facts About Renting You May Find Interesting

People choose to rent for a variety of reasons. Some appreciate the flexibility in renting where they live while others like not having to save for a large down payment to purchase a home. Renting is valuable for young people getting started out and seniors are discovering it is a great way to downsize in later years. Renters may be able to rent month-by-month or sign longer leases.

Here are some interesting statistics surrounding renting.

  • There are about 36% of Americans who rent the spaces where they live. This is the highest rental rate in America in more than 50 years.
  • 90% of rent prices in the largest cities in America have increased over the past year.
  • In 2/3rds of the housing markets in the United States, buying is less expensive than renting.
  • Rental properties are statistically more prone to crime.
  • Over 40% of renters are paying over 40% of their income on rent.
  • 2 million people who rent apartments are single women.
  • Landlords will screen about 2 applicants for every successful renter.
  • Almost 75% of rental properties are owned by individual investors.

Renters are often under the belief that their landlord carries insurance that will protect the renter in a loss. The reality is landlords will only carry insurance to protect their interest and their property. This is where renters insurance is so valuable. Renters insurance protects the personal possessions of the tenant in a loss and even provides liability coverage should a delivery person or visitor become injured while on premises. Many policies have other benefits including covering possessions while traveling. Contact your independent agent for details. The best news is that renters insurance is extremely affordable. Again, your agent will have details based on your circumstances.

If you are or are considering renting, contact one of our independent insurance professionals for a no-obligation quote. You just may be surprised at how affordable renters insurance can be. Get the protection you need at a price you can afford by contacting us today.


Do you have questions about your insurance? Find an insurance agent near you with our Agent Finder

Buzz Your
Insurance Agent

Search for a local agent with our agent finder map.

Agent Finder

Search All Blogs

Search
Generic filters
Exact matches only
Search in title
Search in content
Search in excerpt

Buzz Your
Insurance Agent

Search for a local agent with our agent finder map.

Agent Finder

Want to learn more about our blog writer?

Read more about KayLynn's background.

Click Here

Search All Blogs

Search
Generic filters
Exact matches only
Search in title
Search in content
Search in excerpt

Enhance Your Life with At-Home Buffets

Miss. Going Out to Your Neighborhood Buffet? Try the DIY Approach

What Would You Do? Awkward Driving Situations

A Four-Way Stop? Emergency Vehicle Approaching? Roundabout?

Trends in Rental Housing

Apartment Communities Are Offering More Than Ever…At a Price.

A Kennel of Famous Dogs in Art and Entertainment

In a World of Famous Canines, There are 3 Top Dogs

What Makes Your Business Unique?

What Are the Aspects of the way You Conduct Business That Make It Special?

The Missing Piece of the Puzzle (Life Insurance)

Are You Sure You Have All the Pieces?

The New Race for Horsepower

Engines Are Becoming More Powerful Than Ever

6 Simple Things You Should Know How To Do Before Buying a House

Don’t Close on Your Home Until You know How To Do These Tasks

Which States Have the Most…?

Learn Which States Have Bragging Rights in Certain Categories

Preparing Your Business For Nasty Weather

Is Your Business Ready for the Next Potentially Damaging Storm?